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Courses

Course Descriptions for:
- Undergraduates
- Undergraduates & Graduates
- Graduates

Course Descriptions

Undergraduates
[EC 3 - 99]

3 Financial Accounting. (Effective FALL 2010 & BEYOND). Theory of accounts, analysis, and recording of transactions; classifications of accounts; determination of revenue; interpretation and preparation of income statements and balance sheets. Cannot be counted toward an Economics major.

5 Principles of Economics (Formerly Economics 1 and 2). An introduction to the fundamentals of microeconomic and macroeconomic analysis. Topics covered in microeconomics include 1) how markets determine composition and pricing of outputs and inputs, and 2) the behavior of individual consumers and businesses in response to market forces. Topics covered in macroeconomics include 1) the determinants of economic growth, and 2) the effects of fiscal and monetary policy on unemployment, inflation, and capacity utilization. Economics 5 and 8 may not both be taken for credit.

6 Business Law. Legal issues pertaining to business associations and operations. Topics may include business organizations, the law of contracts and agency, the Uniform Commercial Code, antitrust laws, and direct government regulation. Cannot be counted toward any Economics major.

7 Principles of Financial Accounting. Principles of finance from the perspective of the corporation. Topics include an overview of capital and money markets, short- and long-term sources of finance, issues in selecting equity vs. debt, capital budgeting, costs vs. risks of various instruments, and appropriate uses of particular types of finance. Prerequisites: Economics 5, or Economics 3, or consent. (This course is only offered during Summer Session).

8 Principles of Economics with Environmental Applications (EFFECTIVE Spring 2013 and beyond). An introduction to the fundamentals of microeconomic and macroeconomic analysis. Covers the same concepts and tools as Economics 5 with a focus on environmental issues, examples and applications. Satisfies all major or minor requirements satisfied by Economics 5. Economics 5 and 8 may not both be taken for credit.

11 Intermediate Microeconomic Theory. The theory of price determination and resource allocation in a private enterprise economy, analysis of consumer and producer choices, influences of market structure, and the interrelationship of product prices and factor incomes. Required of all economics majors who have not completed Economics 17 or 203. Prerequisites: Economics 5 or Economics 8, and Mathematics 30 or above.

12 Intermediate Macroeconomic Theory. Analysis of the determinants of national income, basic concepts and accounting, aggregate consumption and investment behavior, and implications for public policy. Required of all economics majors who have not completed Economics 18 or 205. In no case may a student receive credit for both Economics 18 and 12. Prerequisites: Economics 5 or Economics 8, and Mathematics 30 or above.

13 Statistics. An introduction to some basic statistical techniques that are used in economic analysis. Major topics include probability, discrete random variables, continuous random variables, sampling distributions, estimation, and hypothesis testing. The course will conclude with some theory and applications of the linear regression model. Required of all economics majors. Prerequisites: Economics 5 or Economics 8, and Mathematics 30 or above.

15 Basic Econometrics. Introduction to common techniques and applications of econometrics. Students will gain an intuitive understanding of basic econometric techniques and will learn to apply those techniques to new problems. Data analysis with an econometrics software package and an empirical project using econometric methods. Economics 15 and 107 may not both be taken for credit. Prerequisite: Economics 13.

16 Foundations of Quantitative Economics.
Application of mathematical methods common to both micro- and macroeconomics. Applications include: systems of equations and comparative statics, e.g., supply and demand equations and models of strategic interaction; consumer constrained utility maximization; firm profit maximization and cost minimization; dynamic equilibria (difference and differential equations) and dynamic optimization techniques. Prerequisites: Economics 11, and Mathematics 34 or above.

18 Quantitative Intermediate Macroeconomic Theory. Analysis of the determinants of national income, basic concepts and accounting, aggregate consumption and investment behavior, and implications for public policy, with mathematical illustrations. Required for all quantitative economics majors who have not completed Economics 205. In no case may a student receive credit for both Economics 18 and 12. Prerequisites: Economics 16.

19 Review of Quantitative Macroeconomic Theory. Review of Economics 18 for Quantitative Economics majors who have taken Economics 12. ½ credit. Prerequisites: Economics 16.

24 Game Theory. Introduction to game theory and how it is used to understand strategic interactions among individuals, firms, governments, and countries. Topics include credible threats, signaling, principle-agent problems, auctions, arbitration, voting, implications of asymmetric and incomplete information and collusion. Not open to students who have taken or are currently taking Economics 119 or its equivalent. Prerequisites: Economics 5.

30 Environmental Economics. An examination of the uses and limitations of economic analysis in dealing with many of the environmental concerns of our society. Public policies concerning the environment will be evaluated as to their ability to meet certain economic criteria. Prerequisite: Economics 5.

35 Economic Development. Problems in the growth of underdeveloped economies. Emphasis on quantitative models of economic growth at low levels of income and on the testing of various hypotheses proposed to explain underdevelopment. Consequences of market structures, population growth, externalities, institutions, and political factors for economic development. Prerequisites: Economics 5.

36 Macroeconomic Analysis for Development. Macroeconomic policies for developing countries and implications for growth and development. Orthodoxy, heterodoxy, shock therapy, and gradualism. Seignorage, fiscal policy, and debt sustainability. Exchange rate management and capital flows. Political economy and political reform strategies. Country studies and cross-national statistical studies from developing and transitional economies. Prerequisites: Economics 5.

43 Women in the Labor Market. Application of the tools of microeconomics to examine the status of women in the labor market. Will include analyses of earnings, poverty, labor force participation, hours of work, and unemployment. While most of the course will focus on the recent past and the present, part of the course will be devoted to how gender differences have changed historically. Prerequisites: Economics 5.

48 Health Economics. An examination of major topics in the economics of health and health care, both in the United States and abroad, using the basic theoretical and empirical tools of economics. Covers the medical and nonmedical determinants of health, markets for medical care services and health insurance, and proposed ideas for health care reform. Special topics include AIDS, aging, and obesity. Prerequisites Economics 1 or 5. This course meets the following distribution requirements: Social Sciences.

50 Introduction to Finance. An introduction to fundamental ideas of corporate finance and their connection to economic principles through basic theory, cases and applications. Not open to students who have taken or are currently taking Economics 150 or its equivalent. Prerequisite: Economics 5.

60 International Economics. Analysis of the economic effects of trade among nations. Determination and stabilization of exchange rates; regulation of commerce through various commercial policies; the United States balance of payments; the impact of international trade on price, incomes, and employment in the participating nations; international agencies and agreements affecting world trade. Custom unions and common markets, world liquidity problems. Not open to students who have taken or are currently taking Economics 161 or its equivalent. Prerequisites: Economics 5.

62 Economics of International Migration. Exploration how economists tackle the questions: Who migrates? Who stays and who returns? Why? Which migrants send money home? What impact do those remittances have on economic development? How can economics help us understand refugee flows and illegal migration? Why do immigrants cluster in neighborhoods like Chinatown or the North End of Boston? Is migration a substitute for or a complement to international trade? The course first develops economic tools for understanding both individuals' decision to migrate across international borders and the resulting migrant flows. It then explores the economic impact and policy implications of migration for home (migrant sending) and host (migrant receiving) countries' economies. Prerequisite: Economics 5, or consent.

63 Economics of the European Union. Introductory examination of the development and functioning of the European Union through economic models. Discussed are European economic integration, customs union, and the single market; free movement of labor and capital; monetary unification; the European Central Bank versus the US Federal Reserve System; monetary versus fiscal policy; regional policy; and social policy. Also examined are external trade policies and economic benefits and costs of joining the union for small versus large countries, the euro as an international currency, the impact of the EU on the developing world and on international income disparities, and the EU's role relative to other regional trading blocks in the world economy. Prerequisites: Economics 5.

74 Entrepreneurship. Analysis of the economic role and importance of the entrepreneur. The entrepreneur as market-maker and leader. The entrepreneurial role in strategic decision making, organizational design, and management development. Financial planning and venture capital. Prerequisite: Economics 5.

77 Economics Organization. This course considers how economic principles can help us answer these questions. We look at how the organizational architecture of firms affects corporate strategy. We investigate how organizational structure determines corporate performance. We analyze how the balance between the delegation of decision rights, the design of incentive systems and the monitoring and evaluation of individual and divisional performance, when correct lead to success and when wrong can lead to failure. Throughout the course we draw heavily on case studies and real-world examples of business organizations. Prerequisites: Economics 5. (This course is only offered during Summer Session).

83 Economies of the Middle East. Introductory survey of Middle Eastern economies. The geographic focus will be on the Eastern Arab world - Egypt, the Fertile Crescent, and the Arabian Peninsula - plus Israel and Iran. Because of their historical and cultural ties with the region, Turkey and the countries of North Africa are also considered. Various aspects of the economic realities of the region, such as economic growth and development, the economics of oil, water and food security, population growth and labor mobility, health, education, the role of the state, economic policy reform, and the prospects for global and regional integration. Course is designed to provide both a grasp of the economic development of the Middle East in modern times and a familiarity with present-day economic conditions. Prerequisites: Economics 5.

86 American Economic Development in Historical Perspectives, 1630-1930. (Cross-listed as History 179). History of the American economy as a consequence of three regional development strategies: plantation production of staple exports (South); import-substitution-industrialization (North); small-scale commercial agriculture (West). Topics include interregional trade, the retardation of the postbellum South, transformation of northern manufacturing, and the new macroeconomics of the Great Depression. Prerequisites: Economics 5.

87 Economics of the British Industrial Revolution, 1750-1850. (Cross-listed as History 162). English property rights, the demographic revolution, the agricultural revolution, the Poor Law, labor market integration, standard of living, domestic and international capital flows, foreign trade, Empire trade (India, Ireland, West Indies), and the relative retardation of France and Holland. Prerequisites: Economics 5.

90 Independent Study. Independent reading or research on special topics in economics for 0.5 credits. Approval and supervision of a faculty member is required. Work in an approved internship is permissible as part of the curriculum. Grading is typically pass/fail. Prerequisites: Economics 11, 12, or 13.

91 Introductory Selected Topics. Lectures on introductory topics in economics. Topics to be announced. Credit as arranged. Prerequisites: Economics 5, or consent.

92 Seminar. Designed to enable students with an Economics 5 level of preparation to explore and to do research on a major topic. Topics vary from year to year. Prerequisites Economics 5, or permission of instructor.